Losses and lawsuits
Our monthly review of fraud management failure, human error and other operational hazards at financial firms around the world, distilled from the First database of operational risk loss events and case studies
Morgan Stanley
In an unusual case and a twist on investigations into research analyst conflict-of-interest claims, Morgan Stanley was ordered by a French court on January 12, 2004 to pay Louis Vuitton Moet Hennessy (LVMH) E30 million (US$38 million) over charges that it had issued biased research reports on the luxury goods manufacturer. LVMH had announced in November 2002 that it was lodging a
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